Funds Managed by Libra Advisors, LLC Acquire Shares of Cluff Gold plc for
Investment Purposes

TORONTO, Oct. 8 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") acquired 3,500,000 Ordinary Shares ("shares") of Cluff Gold plc ("Cluff Gold") at a price of (pnds stlg)1.00 per share.

As a result of this acquisition, the Funds now hold 14,605,729 shares representing approximately 11.9% of the total outstanding shares of Cluff Gold.

The Funds acquired the shares for investment purposes and may, from time to time, acquire additional securities of Cluff Gold or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore Master Fund, L.P. with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.

For further information: Mr. Ranjan Tandon, Managing Member, at [phone]